Head of the state noted that Azerbaijan took significant steps for oil industry: “Construction of Deepwater Jackets Factory started in 1970s with the initiative of Heydar Aliyev. There were other options, this factory was planned to be built on other coasts of the Caspian Sea. As a result of interference and efforts of Heydar Aliyev, Baku was chosen for construction of this factory. This factory plays invaluable role in Azerbaijan’s oil industry. Modernization of oil refineries in 1970s, implementation of other projects served development of Azerbaijan’s oil industry. As for the period of independence, had we not gotten foreign partners involved in making investments in Azerbaijan, the economic situation in the country would’ve been quite different. Signing of the Contract of the Century in 1994 was a historical event. I remember those days well. We participated in the negotiations with Khoshbakht Yusifzade. We were negotiating in Istanbul in May 1994 and Huston in July-August 1994 in order to ensure most acceptable conditions for Azerbaijan. At the same time we were trying investors not to reject our proposals. I think we achieved option acceptable for both sides. As a result of negotiations, the Contract of the Century was signed in 1994 and its implementation has been ongoing since that time. Without “Contract of the Century”, Azerbaijan would’ve been unable to develop this much. Everyone must know it. Main source of our successful development is the Contract of the Century and incomes from this project”.
Without “Contract of the Centuryâ€, Azerbaijan would’ve been unable to develop this much – president
Industry and Energy
NEWS FEED
Russian MFA: Trilateral Declaration of November 9, 2020 retains its relevance
Russian MFA comments on installation of first border marker between Azerbaijan and Armenia
Presidents of Azerbaijan and Kyrgyzstan visited Shahbulag Castle in Aghdam
Azerbaijan's attitude towards Northern Cyprus should be an example to other Turkic states - Committee Chair
Armenia ready to purchase gas from Azerbaijan - Speaker
Mongolia to enter into free trade agreement with EAEU by year-end
Baku hosts First Meeting of Foreign Affairs Committee Chairs of Turkic States’ Parliaments
People blocked several highways in Armenia as protest of delimitation with Azerbaijan-VIDEO
Presidents of Azerbaijan and Kyrgyzstan visited Aghdam Conference Center
Yelo Bank and Azerbaijan State Academic Opera and Ballet Theater Launch Cooperation
Hungarian companies to produce medicine in Azerbaijan - Minister
Turkic World stands in solidarity with Azerbaijan on issue of opening of Zangazur corridor- GNAT Committee Chair
Ukrainian MPs protest Ruben Vardanyan's nomination for the Nobel Peace Prize
Hungary welcomes Azerbaijan and Armenia's recent steps taken regarding borders
Hungary invest USD 2 bln in Azerbaijan's energy sector
President Ilham Aliyev and President Sadyr Zhaparov attended opening of Aghdam Juma Mosque after restoration
Azerbaijan, Hungary sign Protocol on results of 10th meeting of Joint Intergovernmental Commission
Presidents of Azerbaijan and Kyrgyzstan visited Palace of Panahali Khan and Imarat Complex in Aghdam
Hungarian companies are keen to operate in Garabagh -Deputy Minister
Presidents of Azerbaijan and Kyrgyzstan visited Aghdam
Prime Minister of Nakhchivan dismissed from his post, new PM appointed
Hungarian energy drinks produced in Azerbaijan to be exported to Central Asia - Deputy Minister
Armenia to open General Consulate in Tabriz soon
Presidents of Azerbaijan and Kyrgyzstan visited devastated areas of Fuzuli city and viewed master plan of the city
Hungary plans to purchase more gas from Azerbaijan - FM
Minister: Number of flights between Azerbaijan, Hungary surprised me
President of Kyrgyzstan Sadyr Zhaparov, who is on state visit to Azerbaijan, arrived in Fuzuli district
Hungary preparing plan for its companies to participate in restoration of Azerbaijan's liberated territories
Azerbaijani Minister: Trade turnover with Hungary increased by 40%
Azerbaijani citizens to be able to visit liberated Lachin in their cars
Azerbaijan and Hungary achieved cooperation in various fields- Hungarian FM
Azerbaijani Deputy Minister meets with Kyrgyz Digital Development Minister -PHOTO
US secretly shipped long-range missiles to Ukraine
Azerbaijan Army is conducting command-staff exercises-PHOTO-VIDEO
Baku hosts X meeting of Azerbaijan-Hungary Joint Intergovernmental Commission-PHOTO
China harbors ship tied to North Korea-Russia arms transfers, satellite images show-Media
Azerbaijani police found numerous weapons and ammunition in Khankandi
NATO exercises are being conducted against Russia, says American General
Price of Azerbaijan oil increases
Senate launches investigation into high prices of Ozempic and Wegovy in the U.S.
Meta tempers expectations for second-quarter revenue
Legalizing Israeli settlements in West Bank would be "dangerous and reckless," US State Department says
Spanish PM says he’s considering quitting as premier
TikTok vows to fight 'unconstitutional' US ban
FAO develops standardized tool to collect data on conflicts, climate change in Africa
Hungarian FM arrives in Azerbaijan
Ukraine receives 1.5 bln euros in aid from EU
UNSC rejects amendment by Russia, China to resolution on nuclear weapons in outer space
Russian defense minister dismisses his deputy Ivanov
Russia vetoes US-backed UNSC resolution on banning nuclear weapons in outer space